The world is getting richer as global wealth surged to 20 percent above its pre-crisis peak in 2007, jumping $20.1 trillion over the past year to $263 trillion, but is generating conditions that have sparked social crises in the past, according to new research by Credit Suisse.
The U.S. led the way again with a rise of $8.9 trillion in household wealth for the 12 months ending mid-2014, the investment bank said in its Global Wealth Report.
Europe made the second-largest contribution, adding $8.1 trillion. Despite making enormous strides in recent years, China, which accounts for 21.4 percent of the adult population of the world, only added 8.1 percent of global wealth or $715 billion.
Michael O'Sullivan, UK CIO at Credit Suisse told CNBC that Spain and Japan had both created the same number of dollar millionaires as China in the past year.
"In the next few years emerging markets will have about 20 percent of the world's wealth. But if you look at Russia, Turkey -- countries that have had turbulence, weaker currencies – it really has fallen off," he said.